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2004 (10) TMI 66 - ALLAHABAD HIGH COURT"Income from other sources" - interest paid on "seed loan for industrial estate" - Whether Tribunal was justified in upholding the additions made u/s 143(3)/148 on account of interest payable to the U.P. Government on seed loan taken by the company? - Whether Tribunal was legally right in holding that the interest pay able to the U.P. Government on seed loan taken was not deductible from the interest earned from the investments of the same loan by the appellant?" - The interest paid on "seed loan for industrial estate" cannot be allowed as a deduction under section 57 of the Act as the same has not been expended for earning the interest which has been assessed under section 56 of the Act under the head "Income from other sources". – Thus, we answer the three questions of law referred to us in the affirmative, i.e., in favour of the Revenue and against the assessee
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